i sat down with former national economic council director gary cohn to talk about his own spac effortsind of companies he is looking for and more. gary: we are looking for good, sound companies that are going to be around for the next 100 years. i want to buy a company that i am happy to own for the next 20 or 30 years. emily: do you think the spac process will change the traditional ipo process fundamentally? is this the beginning of a sea change and how companies get to a public market? gary: i think we are in a watershed moment in the spac world and spac's are here to stay. the general acceptance on the buying side and selling side of companies. spac's being better buyers of assets. that has changed dramatically. the management teams and spac's have gotten better and better. it's not going to look anything in the future like it does today. the spac world will get more mature. it will defined itself, it will redefine itself. i think the product is here to stay as a mechanism for existing companies to merge into pre-existing, blank check companies. emily: bitcoin has been on a tear. h

gary cohn there. >>> and also breaking tonight, dr.ng americans to remain vigilant, saying that a vaccine will be here, quote, soon. >> we need to actually double down on the public health measures. if you're fighting a battle and the cavalry's on the way, you don't stop shooting. you keep going until the cavalry gets here and then you might even want to continue fighting. >> fauci was speaking at the first coronavirus task force briefing since july. august, september, october, november. the first in the white house since trump lost the election. four months since we've had one of those. as you have 259% surge in deaths in just the past week. the president, though, was nowhere to be seen. more than 250,000 americans have now lost their lives to coronavirus. "outfront" now, dr. jonathan reiner who advised the white house medical unit under president george w. bush. dr. reiner, look, you hear people like gary cohn saying the big crisis is the surge, the surge in the coronavirus while the president, of course, is spending his time worried

i see that stephanie calton was recently tweeting that she was speaking with gary cohn, who is, you know, an insider, former goldman sachs guy who's, you know, becomes part of governments, especially democratic governments. and he says like, they're ready to print 2 trillion immediately upon biden taken office, and then another 3 chile in the 1st year. they're also talking about a trillion in debt forgiveness for students who, you know, the stock markets also finally hit 30000. this was something that was predicted back in the late 1990 s. that it would get to 36000. right. and that was out.

i see that stephanie calton was recently tweeting that she was speaking with gary cohn, who is you know, an insider, former goldman sachs guy who's, you know, becomes part of government, especially democratic governments. and he says like, they're ready to print 2 trillion immediately upon biden taken office, and then another 3 chile in the 1st year. they're also talking about a trillion in debt forgiveness for students who, you know, the stock markets also finally hit 30000. this was something that was predicted back in the late 1990 s. that it would get to 36000. right. and that was famously a bad call because it crashed down to very far down after that. well, the metrics that the government used for inflation are very skewed. so in other words, the stock market is reflecting inflation and the u.s. dollar is experiencing a hyper inflationary collapse against big coins. and what these financial engineers have done like harry cohn and the others on wall street and around the world is they have financially engineer the world so that when they print the money, it doesn't go down the path

contrast to republicans like governor larry hogan from maryland, senator mitt romney, as well as gary cohnhave come out to congratulate the president-elect joe biden for his win last week. jonathan: i don't want to draw equivalents, but maybe in london i have more space to say this. i am not sure what was graceful about the for your blame game that hillary clinton went on -- the four year blame game that hillary clinton went on. was that graceful? tom: no, but in the last 24 hours, there has been a partition of republicans, including the vice president on a beach in florida. jonathan: who is going to work through a process, and let's work through that process with you right now. i understand you can't say too much. help me understand the dates that you've got in mind. i understand the states have to certify the results by, when, december 8? kevin: precisely. i would argue january 20, the date of the inauguration. in addition to that, there is beinga transition that is implemented by sources i spoke with yesterday at the various agencies. they have been working on those transition binders,

i was struck by gary cohn's hours,ver the past 24 and which he congratulated president-elect biden. gary tweeted out a congratulations to president-elect biden. as it relates to the progressive circles, they have an opportunity to louver a progressive senate for current minority leader chuck schumer. you january 5 over time, if want to go at that, is going to be incredibly expensive, but also incredibly watchable. aoc tweeted that out as well, that the progressives have the technology, as well as the fundraising capability to impact politics. lisa: we have a couple of months before a new president takes the helm. in addition to transition issues, there is a question about some sort of fiscal support package getting past to bridge this gap. what is the chance of something happening in the lame-duck session in d.c.? kevin: the rise in covid cases are definitely going to serve as a background for the increase in in unofficial talks. the president himself quitting out a statement earlier this morning with regards to the positive development's of the market, as well as the vaccine. that w

gary cohn, sent an email to parents to let them know there beno no on-campus classes a week after thanksgivingso added, we had a student where a maga hat today, i have talked with that student, who now understands why that hat is offensive to our community. he will not wear it again. in addition, his mom said he was embarrassed by his actions. she will fulfill her roll as a parent. we will continue to grow as a community that sees and values the dignity of all people. i called and asked why he thinks the hat is offensive to c his community and what way it violated school policy and why an email to all parents was necessary, he didn't pick up,ar but i left a message, and tucker, haven't heard back from him yet. >> tucker: amazing. i actually did not see that story coming, i've been writing all afternoon. actually went to that school. it was less expensive and more tolerant when i was there, sad to hear it. rick leventhal, thanks so much. >> news we didn't know before. >> tucker: i didn't know either come amazing. well, if you had a few days of uninterrupted free time to do literally whatever yo

hoped for someone else besides yellen >> you have republicans issues support, gary cohn former nec director for president trump saying janet yellen is an excellent can choice and believes she'll promote economy good for everybody >> much more on that and strong markets next on "fast money" which starts right now >> i'm melissa lee, this is "fast money. tonight's trader lineup -- tonight on fast. over cooked what morgan stanley's mike wilson is calling this market and says we could be due for a big pull back. and snap rolling out a new service to take on tiktok. why one trader thinks this could be a big bet that pays ox late -- pays off later, good old fashion game of shop it or drop it which belong on the naughty or nice list. starting with late breaking news on president-elect joe biden's treasury secretarypick steve l. >> reporter: esman has steve liesman with the details. >> thanks very much. president-elect joe biden nominating janet yellen as treasury secretary if confirmed will be the first woman secretary in the country 231 one year history and second chair to host post of second cha

economists full of that appreciate the pic and gary cohn has welcomed it.me who have come from the fed, timothy geithner was one at the new york fed, but previous to that, two fed chiefs had served as treasury secretary . she's also been able to avoid lines of criticisms her would be predecessors have had. i remember there was some criticism around hank paulson for being too cozy given his time at goldman sachs with the under thed jack lew obama administration was seen as lacking foreign-policy experience. that is not a weakness of janet yellen haven't been -- having been at the fed. anna: what will the priorities be in the administration? a lot has been made about comments about fiscal stimulus. michelle: of course, and that is the interesting part. she's been joining a course of central bankers across the world saying we've done all the heavy lifting and fiscal policy has not done enough to carry the load in this economic recovery. we hear that on the u.s. side, so the president-elect biden is handing janet yellen the power to make her mark on that issue,

who better to talk about all of this than gary cohn, he's the former director of the national economicr us treasury secretary but just how excellent pick for us treasury secretary butjust how daunting a challenge does she face? thank you for having me this evening. i do think that janet yellen, former chairwoman of the federal reserve, isa very chairwoman of the federal reserve, is a very good pick for this job. i got to work with her in her later years as chairperson of the federal reserve when i was in the white house. we worked extremely well together, and i think she brings a very realistic, very down to earth from a very pragmatic approach to the treasury. she does have a daunting task, we need to get the united states economy back on track. and we need to do it from the bottom up. need to get small businesses and family—owned businesses, and minority owned businesses and workers back to work. this is a very big task and she's going to have to work really hard to get congress to help her out on this. would you encourage the president to get congress to pass some kind of stimulus b

the progressive side hoped for someone else besides yellen >> you have republicans issues support, gary cohn president trump saying janet yellen is an excellent can choice and believes she'll promote economy good for everybody >> much more on that and strong markets next on "fast money" which starts right now >> i'm melissa lee, this is "fast money. tonight's trader lineup -- tonight on fast. over cooked what morgan stanley's mike wilson is calling this market and says we could be due for a big pull back. and snap rolling out a new service to take on tiktok. why one trader thinks this could be a big bet that pays ox late -- pays off later, good old fashion game of